Fixed Coupon Bond with even principal payments

Last updated 9 November 2026

Function reference › Bonds › Fixed Coupon Bonds

9 GIAnalyzer functions for Excel. Optional arguments are shown in [brackets].

GIA_Bonds_FixedAmortEven_AccruedInterest

Returns the accrued interest of an amortizing bond generating periodic principal and fixed coupon payments.

GIA_Bonds_FixedAmortEven_AccruedInterest(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, SDate)

Returns: Accrued interest of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`SDate`	Required	The settlement date.

GIA_Bonds_FixedAmortEven_CarryRollDown

Returns the carry or roll-down of an amortizing bond generating periodic principal and fixed coupon payments, given an interest rate curve for discounting future cash flows.

GIA_Bonds_FixedAmortEven_CarryRollDown(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, HDate, DR, DaysCoupon, ExDays, DCurveDates, DCurveRates, SDate, CountAccrual, Comp, Days, Interp, Spread, MT)

Returns: Carry or roll-down of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`HDate`	Required	The horizon date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`DCurveDates`	Required	The array of dates in the interest rate curve used for discounting cash flows.
`DCurveRates`	Required	The array of rates in the interest rate curve used for discounting cash flows.
`SDate`	Required	The settlement date.
`CountAccrual`	Required	Whether the accrued but unpaid value of the last coupon is added to the carry. (Yes, No)
`Comp`	Required	The compounding basis of the interest rates (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rates (act/360, act/365, act/act, 30E/360, 30I/360)
`Interp`	Required	The interpolation method (Linear, LogLinear, CubicSpline, Exponential)
`Spread`	Required	The spread (in basis points) that is added to the discounting curve
`MT`	Required	The measure type. (Carry, Roll-down)

GIA_Bonds_FixedAmortEven_RiskFromCurve

Returns the risk measures (DV01, Macaulay Duration, Modified Duration, Convexity, KR01, Bucket DV01, Key Rate Duration or Bucket Duration) of a bond generating periodic principal and fixed coupon payments, given an interest rate curve for discounting future cash flows.

GIA_Bonds_FixedAmortEven_RiskFromCurve(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, DCurveDates, DCurveRates, SDate, Comp, Days, Interp, RM, Spread, [StartTerm], [EndTerm])

Returns: Risk measures (DV01, Macaulay Duration, Modified Duration, Convexity, KR01, Bucket DV01, Key Rate Duration or Bucket Duration) of a bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`DCurveDates`	Required	The array of dates in the interest rate curve used for discounting cash flows.
`DCurveRates`	Required	The array of rates in the interest rate curve used for discounting cash flows.
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rates (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rates (act/360, act/365, act/act, 30E/360, 30I/360)
`Interp`	Required	The interpolation method (Linear, LogLinear, CubicSpline, Exponential)
`RM`	Required	The risk measure type (DV01, MacaulayDuration, ModifiedDuration, Convexity, KR01, BucketDV01, KRDuration, BucketDuration)
`Spread`	Required	The spread (in basis points) that is added to the discounting curve
`StartTerm`	Optional	The starting term for Bucket and Key Rate measures.
`EndTerm`	Optional	The ending term for Bucket and Key Rate measures.

GIA_Bonds_FixedAmortEven_RiskFromPrice

Returns the risk measures (DV01, Macaulay Duration, Modified Duration, Convexity) of an amortizing bond generating periodic principal and fixed coupon payments, given bond price.

GIA_Bonds_FixedAmortEven_RiskFromPrice(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, Price, SDate, Comp, Days, ValueType, RM)

Returns: Risk measures (DV01, Macaulay Duration, Modified Duration, Convexity) of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`Price`	Required	The bond's price
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rate (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rate (act/360, act/365, act/act, 30E/360, 30I/360)
`ValueType`	Required	Bond price type (Clean, Dirty)
`RM`	Required	The risk measure type (DV01, MacaulayDuration, ModifiedDuration, Convexity)

GIA_Bonds_FixedAmortEven_RiskFromYield

Returns the risk measures (DV01, Macaulay Duration, Modified Duration, Convexity) of an amortizing bond generating periodic principal and fixed coupon payments, given a single interest rate for discounting future cash flows.

GIA_Bonds_FixedAmortEven_RiskFromYield(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, Yield, SDate, Comp, Days, RM)

Returns: Risk measures (DV01, Macaulay Duration, Modified Duration, Convexity) of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`Yield`	Required	The flat discounting interest rate.
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rate (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rate (act/360, act/365, act/act, 30E/360, 30I/360)
`RM`	Required	The risk measure type (DV01, MacaulayDuration, ModifiedDuration, Convexity)

GIA_Bonds_FixedAmortEven_ValueFromCurve

Returns the value (Clean, Dirty) of an amortizing bond generating periodic principal and fixed coupon payments, given an interest rate curve for discounting future cash flows.

GIA_Bonds_FixedAmortEven_ValueFromCurve(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, DCurveDates, DCurveRates, SDate, Comp, Days, Interp, ValueType, Spread)

Returns: Value (Clean, Dirty) of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`DCurveDates`	Required	The array of dates in the interest rate curve used for discounting cash flows.
`DCurveRates`	Required	The array of rates in the interest rate curve used for discounting cash flows.
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rates (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rates (act/360, act/365, act/act, 30E/360, 30I/360)
`Interp`	Required	The interpolation method (Linear, LogLinear, CubicSpline, Exponential)
`ValueType`	Required	Bond price type (Clean, Dirty)
`Spread`	Required	The spread (in basis points) that is added to the discounting curve

GIA_Bonds_FixedAmortEven_ValueFromYield

Returns the value (Clean, Dirty) of an amortizing bond generating periodic principal and fixed coupon payments, given a single interest rate for discounting future cash flows.

GIA_Bonds_FixedAmortEven_ValueFromYield(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, Yield, SDate, Comp, Days, ValueType)

Returns: Value (Clean, Dirty) of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`Yield`	Required	The flat discounting interest rate.
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rate (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rate (act/360, act/365, act/act, 30E/360, 30I/360)
`ValueType`	Required	Bond price type (Clean, Dirty)

GIA_Bonds_FixedAmortEven_YTM

Returns the yield to maturity of an amortizing bond generating periodic principal and fixed coupon payments, given its price.

GIA_Bonds_FixedAmortEven_YTM(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, Value, SDate, Comp, Days, ValueType, Precision, InitialGuess)

Returns: Yield to maturity of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`Value`	Required	The bond's price
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rates (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rates (act/360, act/365, act/act, 30E/360, 30I/360)
`ValueType`	Required	Bond price type (Clean, Dirty)
`Precision`	Required	The absolute calculation precision.
`InitialGuess`	Required	The initial guess for numerical YTM calculation.

GIA_Bonds_FixedAmortEven_Zspread

Returns the Z-spread of an amortizing bond generating periodic principal and fixed coupon payments, given its value and zero interest rate curve for discounting future cash flows.

GIA_Bonds_FixedAmortEven_Zspread(FaceValue, CRate, CFr, StartAccrDate, PFr, NPPD, MDate, DR, DaysCoupon, ExDays, Value, DCurveDates, DCurveRates, SDate, Comp, Days, Interp, ValueType, Precision, InitialGuess)

Returns: Z-spread of an amortizing bond generating periodic principal and fixed coupon payments

Argument	Use	Description
`FaceValue`	Required	The bond's face value. For a long position, the sign is positive, and for a short position, it is negative.
`CRate`	Required	The bond's coupon rate.
`CFr`	Required	The frequency of the bond's coupon payments (Annual, SemiAnnual, Quarterly, Monthly)
`StartAccrDate`	Required	The start date of the bond's first accrual period.
`PFr`	Required	The frequency of principal payments (Annual, SemiAnnual, Quarterly, Monthly, Biennial)
`NPPD`	Required	The next principal payment date.
`MDate`	Required	The bond's maturity date.
`DR`	Required	The date rolling method. Non-business days are Saturdays and Sundays; holidays are not supported (Following, ModifiedFollowing, Previous, ModifiedPrevious, NoAdjustment)
`DaysCoupon`	Required	The time basis for the accrual period calculation (act/360, act/365, act/act, 30E/360, 30I/360)
`ExDays`	Required	The number of days before coupon payment, during which the bond buyer is not entitled to receive the coupon.
`Value`	Required	The bond's price
`DCurveDates`	Required	The array of dates in the interest rate curve used for discounting cash flows.
`DCurveRates`	Required	The array of rates in the interest rate curve used for discounting cash flows.
`SDate`	Required	The settlement date.
`Comp`	Required	The compounding basis of the interest rates (Annual, SemiAnnual, Quarterly, Monthly, Simple, Continuous)
`Days`	Required	The time basis of the interest rates (act/360, act/365, act/act, 30E/360, 30I/360)
`Interp`	Required	The interpolation method (Linear, LogLinear, CubicSpline, Exponential)
`ValueType`	Required	Bond price type (Clean, Dirty)
`Precision`	Required	The absolute precision of internal bond value calculations.
`InitialGuess`	Required	The initial guess for the numerical calculation of Z-spread.